Kenyan players leave the field after being beaten by Wales during their semifinal match Sunday.
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Members of the crowd enjoyed the atmosphere in the south stand during day two of the 2013 Hong Kong Sevens rugby tournament at Hong Kong Stadium Saturday.
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The south stand during day two of the 2013 Hong Kong Sevens rugby tournament.
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A rugby fan wearing a priest costume looks on at the spectators' stand during the second day of the three-day Hong Kong Sevens rugby tournament Saturday. The annual three-day international sporting event attracts fans from around the world, creating a carnival atmosphere.
Tyrone Siu…

Tyler Ardron of Canada,top, and Jone Vota of Fiji fight for the ball during their match Saturday.
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Fans enjoy the second day of the Hong Kong Sevens rugby tournament.
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England''s Tom Powell, center, leaps for the ball as he is tackled by Scotland's Michael Fedo during their preliminary match Saturday.
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This general view shows spectators attending the second day of action at the Hong Kong Sevens rugby tournament.
Laurant Fievet/Agence France-Presse/Getty Images…

A member of the crowd Saturday at the rugby tournament.
Cameron Spencer/Getty Images…

Fans at Hong Kong Stadium on Friday.
Cameron Spencer/Getty Images…

A rugby fan smiles during the first day of Hong Kong Sevens rugby tournament Friday.
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Associated Press

Rugby fans dance during the Hong Kong Sevens rugby tournament in Hong Kong on March 25, 2012. See more photos.

Hong Kong is gearing up for its world-famous, rugby-themed bacchanalia this weekend, as tens of thousands of spectators descend on the city for the three-day fete.

This year, 28 teams will take part in the Hong Kong Sevens, each representing their nation, which range from Jamaica to Scotland. Some 40,000 fans are expected to pack the stands daily, many—if past years are any cue—sporting sheet togas, neon wigs and sundry self-created costume themes.

Andrew Diamond, a British software company owner who flew in from Malaysia with nearly a dozen friends, said Friday that this weekend marked the eighth time he’d made the journey to Hong Kong for the event. Like many other spectators, Mr. Diamond is girding himself for a three-day spell of drinking with his friends, which they’ll undertake while wearing matching duds designed for the occasion by one of their friends.

“There isn’t really a concept,” he said, gazing down at the pastel pink-and-green striped jacket he was wearing over a pair of shorts and sneakers. “The concept is just to stick out, to be honest.”

Sean Moore of Elite Step Asia Limited, which is helping to market the event, said that this year’s lottery system of ticketing—which released 4,000 for sale to the general public in January—was more than 12 times oversubscribed. In recent years to try and prevent scalpers, organizers have held off on actually distributing tickets until mid-March, he said. Extra security efforts to deter counterfeits have also been added, he said.

In addition to the rugby contests, the event will include a Beach Boys concert, a lion dance and a parade of the participating teams through the stadium on Saturday, which will be accompanied by drum playing by the Hong Kong police force. The event is the sixth in the HSBC Sevens World Series, which will culminate in May in the United Kingdom, and consists of nine rugby sevens events held around the globe.

Among those carousing this weekend will be the many guests invited by the event’s sponsors, local companies HSBC and Cathay Pacific, as well as the dozens of other companies that annually purchase box seats for clients and staff.

While investment banks have slashed tens of thousands of jobs around the world over the past year, Mr. Moore said that corporate interest in the event hadn’t waned. Even during past financial crises in 1998 and 2008, he says, “we didn’t see a big decline in corporate take-up.” The current waiting list for a corporate box is over 200 companies long, he said.

The event is a boon for Hong Kong’s tourism industry, with some hotel operators raising their prices by as much as 50% during the weekend. Mr. Diamond, though—who’s paying $250 a night for his four-night stay in a mid-range hotel—says it’s worth it. “It’s kind of a pilgrimage,” he says. “And it only happens once a year.”

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